Page 8 - Liquor Firms

DeVANS Modern Breweries enters into production tie-up with Vairagi in UP

DeVANS Modern Breweries has entered into a production tie-up with Vairagi Brewery in UP's Barabanki, further enhancing its production capacity by 24,000 KL, amounting to 2 million cases per year, company officials said. The production tie-up comes barely a year after the company significantly boosted its production capacity through production tie-ups in Arunachal Pradesh and Jharkhand. "Uttar Pradesh is a huge beer market and DeVANS was finding it increasingly difficult to feed the market to its full potential due to capacity constraints. The Vairagi production tie up would go a long way in helping us in meeting the demand for our beers in the State," Prem Dewan, Chairman and Managing Director, DeVANS Modern Breweries Ltd, said. He said that the production partnership would also help the company avoid additional costs of import duties and freight and also enhance our overall production capacity to 1,80,600 KL. The manufacturer of iconic beer brands like Godfather, Six Fields and ..

GST Council likely to exempt distilled alcohol used to make liquor from tax

However, states adopt different practices while imposing GST on extra neutral alcohol, which is key input used to produce liquor

Dry day today on Gandhi Jayanti: All you need to know about dry days

Dry day refers to the prohibition on the sale of alcohol. Since the sale of liquor is a state subject, the laws around prohibition differ across the country

Delhi govt sold over 610 mln liquor bottles, earned Rs 7,285 cr last year

Under its current excise policy, the Delhi government earned more than Rs 7,285 crore in the last year by selling over 61 crore liquor bottles, officials said on Saturday. The excise policy (old) currently under operation since September 1, 2022, was brought by the Delhi government after its ambitious new excise policy for 2021-22 came under the CBI scanner for alleged irregularities in its implementation. The total excise revenue collection from September 1, 2022, to August 31, 2023, was Rs 7,285.15 crore, including Rs 2,013.44 crore collected as value-added tax (VAT), said an Excise Department officer. In comparison, the revenue collection from the new excise policy was Rs 5,487.58 crore in 2021-22. The new excise policy, under which private parties were involved in retail liquor sales, was withdrawn by the Delhi government last year after LG VK Saxena recommended a CBI probe into alleged irregularities in its implementation, officials said. The then deputy CM and Excise Minister

Pernod Ricard eyes premium spirit market in India with local brands

The second-largest distiller in the world has already produced an Indian single malt and may be expanding its portfolio in light of growing demand

Court declines to entertain Pernod appeal to renew liquor sale licence

India's federal financial crime agency has accused the company of illegally making profits by giving false information to Delhi

Limited spirits: Higher taxes, competition weigh on liquor stocks

United Spirits is expected to post an overall 11 per cent decline in revenues in Q1 FY24

Sula Vineyards records double-digit sales growth in June quarter

Sula Vineyards Ltd, the country's largest wine producer, has recorded a strong double-digit sales growth in the June quarter. Its estimated net revenues year-on-year were up 17 per cent in the April-June period, said a sales update by Sula Vineyards. Sales from its own brands were at Rs 103.5 crore, up 24 per cent, while its portfolio of imported "elite and premium brands" had a 30 per cent growth. "The company has recorded its highest ever Q1 net revenues overall as well as for own brands and the wine tourism business," it said. Its revenue estimates from wine tourism were at Rs 11.4 crore, up 11 per cent. This sales updates will be followed by financial statements for Q1 FY24 once approved by its board, said Sula Vineyards. Commenting on this, Sula CEO Rajeev Samant said: "Our focus on premiumisation continues to pay off with our elite and premium wines leading the pack in terms of growth." Sula Vineyards' wine tourism revenues also grew in double digits. Over the outlook, he

Pernod Ricard's India head of corporate affairs Yashika Singh quits

Singh, who headed corporate affairs for the Indian market, with focus on regulatory matters, including related to manufacturing and government policy, resigned last week

Undeterred by price hike, liquor sales at nearly 400 mn cases in FY23

Whisky continued to register the biggest numbers and accounted for around 75 per cent of overall spirits demand

United Breweries hits 52-week low as high RM prices hurt Q4FY23 margins

So far this calendar year (CY23), the stock has crashed over 20 per cent, as against 0.1 per cent rise in the S&P BSE Sensex

Amid regulatory challenges, Pernod Ricard's Bouhier resigns as India head

It is also fighting a near $250 mn tax demand for allegedly undervaluing imports, and the Delhi city authorities have declined its request for a liquor sale licence

Tipplers beware! These liquor brands may soon go off the shelves in Delhi

Delhi Excise Department has not renewed the liquor sale licence of three big firms and distributors

New Delhi rejects renewal of Pernod's liquor sale licence, cites probes

The 12-page order also stated, "Pernod Ricard India Private Limited and its employees had active involvement in the said criminal conspiracy"

Delhi govt invites applications for renewal of liquor licences for 2023-24

The Delhi government on Tuesday invited applications for the renewal of different kinds of liquor licences for 2023-24 as a new excise policy being firmed up is yet to be announced, officials said. According to an Excise Department circular, applications for the renewal of licence and permits can be submitted till the end of February. The applications will be renewed for 2023-24 after payment of required licence or permit fee, it said. "....all holders of licenses/permits of M&TP Branch in form of P-2, P-3, P-4, P-5, P-6, L-4, L-S, L-25, L-34, L-35, DD-9, DD-10, DD-11, DD-5 and AP are hereby requested to apply for renewal through Excise Supply Chain Information Management System (ESCIMS) and deposit license fee/documents for renewal for the year 2023-24 on or before February 28, 2023," said the circular. In case of any delay, the applications will be admitted before the expiry of the licences or permit, provided there are "good and sufficient" reasons for the delay and an ...

Illegal liquor: Consumption may be up, but deaths show the opposite trend

India has a higher per capita consumption of illegal liquor than most countries in the neighbourhood

Taxes account for 67-80% of liquor prices; threatens sector's future: ISWAI

High rates of taxation are crippling the alcoholic beverages (alcobev) sector and threatening the future of the liquor industry in the country, the International Spirits & Wines Association of India (ISWAI) said. ISWAI, the apex body of the premium alcobev industry in the country, said that taxes account for 67 to 80 per cent of the product prices, leaving little for the trade to sustain and manage operations. The Indian alcobev industry is in deep crisis due to inflation on one hand and high taxation rates. In this context, it is needed to decrease taxes and raise product prices for the sector to sustain," ISWAI CEO Nita Kapoor said. Unlike other industries, the liquor industry does not have the freedom to price the products, Kapoor said. "The liquor trade contributes 25 per cent to 40 per cent of the state governments' revenues. Despite this, the government chose to tax it at high rates. The rates should be rationalised," Kapoor said. According to ISWAI, the Indian alcobev ...

World's largest beer maker adds Budweiser Magnum whiskey to its India menu

India's love for darker spirits makes the world's largest beer maker enter the whiskey segment in the country

Sobering reality: Three liquor firms served notices for surrogate ads

In its warning, the MCA had said that "during recent sports events that were televised globally", many instances of surrogate advertising had been noticed

Analysts remain bearish on liquor companies despite Q1 volume gains

Raw material pressures and lack of pricing power key reasons for this view